During the week ending May 17, semi-finished steel prices in the Chinese domestic market have indicated further downticks, though remaining stable in the provinces of Jiangsu and Hebei, while transaction activity in the overall market has improved a little though it remains at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the table below.
During the given week, semi-finished steel prices in China have decreased at a slower rate following the significant declines recorded in previous weeks. Meanwhile, the downtrend of iron ore prices has lost momentum, and this has provided a certain degree of support for semi-finished steel prices. In addition, it is believed that further sharp decreases are unlikely to be seen in the ferrous metal futures markets in China. It is thought that semi-finished steel prices in the Chinese market will likely move sideways in the coming week.
Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
12 mm x 12 mm | Q195-Q235 | Tangshan | 1,950 | 299 | 0 | |
Jinzhong | 1,920 | 294 | ↓30 | |||
Fuzhou | 2,170 | 333 | ↓30 | |||
Jiangyin | 2,100 | 322 | 0 | |||
Average price | 2,035 | 312 | ↓15 | |||
12 mm x 12 mm | 20 MnSi | Tangshan | 2,050 | 314 | 0 | |
Jinzhong | 2,020 | 310 | ↓20 | |||
Fuzhou | 2,280 | 350 | ↓20 | |||
Jiangyin | 2,200 | 337 | 0 | |||
Average price | 2,138 | 328 | ↓10 | |||
250*1800*6000 | Q235 | Tangshan,Hebei | 2,050 | 314 | ↓100 |
The above prices include 17 percent VAT
$1 = RMB 6.52